The Value of the Best Thing That a Person Must

question 178

Multiple Choice

The value of the best thing that a person must give up when making a decision is known as the ________ cost.

• A)benefit's
• B)direct
• C)sunk
• D)opportunity
• E)explicit

---

Definitions:

Breach

The violation or failure to observe a legal agreement, law, or obligation.

Specific Performance

is a legal remedy in contract law where a court orders a party to perform their contractual duties, rather than simply paying damages for failing to fulfill the contract.

Seller

A seller is an individual or entity that offers goods or services for sale.

Identified Goods

Identified goods are specific items that have been designated or set aside for a particular contract or sale, distinct from others.